SHALE gas has transformed the US and put it on track to become self-sufficient in energy but it will have only a limited impact on this side of the Atlantic, says BP.

In its report Energy Outlook 2035 yesterday, it said the boom in shale gas had put the US on track to become a net exporter of gas in 2017 and self-sufficient in energy within 21 years.

Shale gas, which is extracted by the controversial technique known as hydraulic fracturing or fracking, would, along with other new sources of energy, play an increasing role in meeting global demand, predicted BP.

But chief economist Christof Ruehl said the outlook for shale in Europe was affected by outright opposition in some countries such as France – which has imposed a ban on fracking – and constraints in others such as Poland which is “begging for more investment”.

The report predicted that global energy consumption would rise 41 per cent by 2035, which marks a slowdown on the 52 per cent rise over the past two decades.

Emerging markets, led by China and India, would drive the increase while energy consumption by advanced economies in North America, Europe and Asia would decline.

It said Europe would become increasingly reliant on imports.

Oil, gas and coal will each provide 27 per cent of the global energy mix by 2035, with the 19 per cent remainder from nuclear and renewables.

BP chief executive Bob Dudley said the world had sufficient resources to meet demand, though there were challenges.

He added: “The report highlights the power of competition and market forces in unlocking technology and innovation to meet the world’s energy needs. These factors make us optimistic for the world’s energy future.”